Investor Presentaiton
2023 Ontario Economic Outlook and Fiscal Review
• The government is projecting deficits of $5.6 billion in 2023-24 and $5.3 billion in
2024-25 followed by a surplus of $0.5 billion in 2025-26.
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The 2023 Ontario Economic Outlook and Fiscal Review planning assumption is
for real GDP to rise 1.1 per cent in 2023, 0.5 per cent in 2024, 2.0 per cent in
2025 and 2.9 per cent in 2026. The planning assumption is for nominal GDP to
rise by 3.6 per cent in 2023, 2.9 per cent in 2024, 4.2 per cent in 2025 and 4.8
per cent in 2026.
Ontario's 2023-24 net debt-to-GDP ratio is now forecast to be 38.4 per cent, an
increase of 0.6 percentage points from the forecasted 37.8 per cent in the 2023
Budget, mainly due to higher than previously projected deficits. Ontario's net
debt-to-GDP is now forecast to be 39.1 per cent in 2024-25 and 38.7 per cent in
2025-26.
As of the release of the 2023 Ontario Economic Outlook and Fiscal Review,
Ontario has completed $15 billion of its $34.7 billion long-term borrowing
program. Ontario's long-term borrowing requirement for 2023-24 increased by
$7.2 billion from the 2023 Budget forecast, primarily due to higher than previously
forecasted deficits in 2022-23 and 2023-24.
Ontario
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